Singapore's non-oil domestic exports grew 20.7% year-on-year in June, with electronics exports surging on AI-related semiconductor demand, according to Commerzbank analysts Moses Lim and Dr. Henry Hao. The strong export performance, though moderating from previous months, continues to support the Singapore dollar against the US dollar. The analysts highlight that AI-linked semiconductor shipments are a key driver behind the electronics sector's strength.
Commerzbank AGStrong export data driven by AI semiconductor demand supports SGD against USD.